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I was inspired to write this letter after I have had some time to work with you on several projects. I have been impressed with your company's values and your personal service. It has been a pleasure to work with you...[read more]

Born Again Properties, Inc.

How to Rent to Own
Rent to own is a great option for home buyers who do not qualify for a traditional mortgage. You may not have the money for a down payment on a mortgage, or perhaps your credit score is too low to qualify for a bank financed mortgage. If either of these are the case, it is good to know that there are still options for owning your own home.

What You Will Pay?
To get into a rent to own home, you will need to put down a deposit. The deposit is usually a percentage of the overall price of the house, and it should go toward your final purchase of the house. While traditional mortgages often call for up to 20% down, we ask for a minimum of 5% down.

What you pay monthly will be determined by your contract with us. You will need to pay the rent, which is just like a traditional rent. On top of that, we can structure a payment to go toward your premium. The premium is the amount you still owe on the home, after your deposit is taken into account. Unlike a traditional mortgage, your rent payments do not count toward the purchase price of the home. You can pay down the final cost of the house by making an extra premium payment every month.

How Long Will You Rent?
The length of time you will rent will be determined by your contract with us. Usually, the rent to own portion only lasts 1 to 3 years, at which point you will be able to buy the house for the price you agreed on in the contract.

At the end of the contract, you will have paid some money toward the final price of the house. You will be in a much better position to buy the house outright using a traditional mortgage. We can even help you build your credit back up and secure a mortgage.

Is It Right For You?
Determining whether rent to own is right for you should take several things into account. First of all, why can't you qualify for a traditional mortgage? If you have a temporary credit problem, renting to own may give you the cushion you need to repair your credit. However, if you have chronic credit problems, you might need to work on repairing and maintaining good credit before thinking of buying a house. You will still need to put a deposit down for a rent to own house, but the nice thing is you will not have to save up as much.

Rent to own may in fact be a great solution for you. It could help you get out of the rental cycle and start you on your way to home ownership. This is especially true if you have a premium payment figured in to your rent that will go toward the final purchase price of the home. This means some of the monthly bill you are paying will now be applied toward owning your own home.

This is better than renting because you secure your house, knowing that you will have the option to buy it. Also, if you build in premium payments and work with us to repair your credit, you will have a much easier time purchasing the home.

Finding Rent to Own Houses
Finding a house that you can rent to own can take a little work. Usually, real estate agents are only interested in selling homes outright, since they collect a commission on the sale.

When a seller rents you a house to buy in the future, he or she is giving up some of the immediate cash of the purchase and trusting you to make your payments and buy the house in the future. Most people who are selling their homes will not be willing to do this.

That is where we come in. We can purchase the house outright and then rent it back to you. You can secure your future house without having to purchase it outright right now.

We may currently have a house for sale that is perfect for you. If not, we can look for a house that fits your needs, buy it, and then set you up with a rent to own contract.

Please note that in order to qualify for our rent to own program you will have to be able to put down a minimum of 5% of the purchase price of the home and that you will be required to meet a minimum gross income requirement based on the price of the home.